On 6 September 2024, S$2.4m Advance Loan From Directors & CEO Were Converted To The Company Share At S$0.00105 Per Debt Conversion Shares, Showing Tremendous Support & Confidence From The Board & Management.



 

This One Another Potential Multi-Baggers

I' m Expecting East Malaysia Ministry Of Health To  Award The Contract For Solar Power Of The 30 Rural Clinics Soon, With H2 Energy Being One Of The Strong Contender, Having Sucessfully Carried Out Off-Grid Electrication In Their Pilot Project.

" H2E System has been deployed and supplying essential 24/7 power to a rural government clinic in East Malaysia since August 2022 and is expected to be deployed widely throughout other such rural healthcare facilities. "

 

On 14 August 2024, the Company  acquired ten (10) sets of vertical automatic waste tyre pyrolysis production lines ( Production Lines ) through a debt settlement, marking a strategic expansion into waste tyre recycling. transforming waste tyres into valuable resources such as pyrolysis oil, carbon black, and steel, while reducing environmental impact. 
 
On 7 March 2025, the Company had entered into a conditional asset purchase agreement with GPL Industries Sdn Bhd ( GPL Industries ) for the proposed  acquisition of four (4) Production Lines owned by GPL Industries (located in Tanjung Malim, Perak, Malaysia for a consideration of S$2,650,000), to expand revenue streams and maximize the economic return and long-term interest of shareholders of the Company. Upon the completion of the Proposed Acquisition, the Company will have full control of the Plant and  own all of the 14 Production Lines situated at the Plant, hence improving economies of scale.  Operations are slated to commence in FY2025  and are expected to enhance the Group' s financial performance. 

The Consideration shall be satisfied wholly by way of an allotment and issuance of 1,766,666,666 new ordinary shares of the Company ( the Consideration Shares ) to the Vendor on the completion of the Proposed Acquisition, at an  issue price per Consideration Share of S$0.0015  (the Issue Price ). The Issue Price represents a premium of 50% to the volume weighted average price of S$[0.001] per Share transacted on 5 March 2025, being the last market day where there was Shares traded immediately preceding the date of the APA. 

The Consideration Shares represents approximately 9.17% of the existing issued and paid-up share capital of the Company, and 8.40% of the enlarged issued and paid-up share capital of the Company following completion of 1,766,666,666 Shares, assuming no other new Shares are issued by the Company prior to the issuance of the Consideration Shares.  The Proposed Acquisition has been completed on 16 June 2025.

On 22 October 2024: H2EI Group entered into a non-binding memorandum of understanding ( MOU ) with SunGreenH2 during the Asia Carbon Summit at the Asia Clean Energy Summit (ACES) 2024 hosted in Singapore. This collaboration focusses on  advancing renewable energy and off-grid electrification projects for rural communities and facilities in  Malaysia, with plans to expand to the United Arab Emirates, and other countries.  The partnership includes the commission, development, operation, and maintenance of an assembly facility in Malaysia for hydrogen electrolyzers, alongside potential expansion to other territories for future projects. 
 
The Proposed Collaboration will focus on the following projects:
 
(a)  developing and deploying in renewable energy and off-grid electrification projects  for rural/decentralised communities and facilities in Malaysia, with potential expansion to other territories in the future and 

(b)  establishing and operating a hydrogen electrolyser system assembly facility in Malaysia.   
 
The Group is well-placed to capitalize on the demand for green hydrogen and off-grid solutions positions it as a leader in the Borneo Energy Hub, encompassing Malaysia, Brunei, and Indonesia. 

Malaysia' s 2025 Budget, which has  doubled grants for Sabah and Sarawak to RM600 million each, further strengthens renewable energy projects in East Malaysia, a key market for the Group' s initiatives.

Our Oil and Gas BU' s  training facilities based in Singapore, Indonesia and Brunei  are all Engineering Construction Industry Training Board approved training providers. This accreditation allows us to offer specialized training programs, reinforcing our commitment to upholding high standards of quality and safety in the industry. 

In 2024, PT    Panah Jaya Services  expanded its operations to meet the growing needs of the local industry, particularly in the marine and offshore sectors. We began offering  bolting services for shipyards in Batam,  supported by the provision of skilled manpower to carry out on-site operations. 

Panah Jaya Services Sdn. Bhd., a wholly-owned subsidiary of PJS, is an  authorized agent for Sensor Networks Inc. in Malaysia,  providing supply, design, engineering, testing, commission, and training services for pipeline corrosion monitoring sensors.
 

Expansion in Brunei: Our subsidiary, Panah Jaya Makmur Sdn Bhd ( PJM ), has moved into a  new one-acre facility, a site which is four times larger than our previous facility,  to cater for the increased demand from our customers and to provide a greater range of services efficiently.  Our expanded facilities in Brunei and the services in Indonesia enhance our ability to capture opportunities in the oil and gas sector, particularly in maintenance and refurbishment projects.

The principal activities of Annica Holdings are:

(a) trading in oilfield equipment and related products

(b) designing of industrial plant engineering services systems and general wholesaler and trader

(c) designing, engineering, procurement, construction and commissioning of solar photovoltaic system and related products

(d) manufacturing of electricity distribution and control apparatus, operation of generation facilities that produce electric energy, and wholesale of industrial machinery, equipment and supplies and

(e) investment holdings.

Annica' s HY2025 total assets stood at $13.07m. The Group' s net assets increased from a position of $2.6m as at FY2024 to a net assets position of $3.93m million as at HY2025.  The Group held cash and cash equivalents and fixed deposits of an aggregate amount of $5.37m as at the end of HY2025.